Swiss bank launches NFT custody service

Cryptocurrency-friendly SEBA Bank, headquartered in Switzerland, has allowed customers to store Ethereum-based NFTs, including the popular Bored Apes and CryptoPunks digital token collections.

«SEBA Bank is proud to be the first regulated bank to offer NFT custody to its customers. We believe that in the coming years, digital assets, including NFTs, will be increasingly accepted even by traditional financial operators,» said a spokesperson for SEBA Bank.

Despite the fact that the NFT market continues to decline, such digital assets still attract buyers. For example, the profit from NFT sales last month exceeded $ 947 million. SEBA aims to target the so-called «blue chip» market, i.e. the most famous NFT collections that consistently maintain a high market value, such as CryptoPunks, Bored Apes, and Clone X.

Earlier this week, the sale of Reddit collectible avatars on the secondary market exceeded $ 1.88 million, which is 799% more than last weekend. The most expensive avatar was Spooky Season for 18 ETH ($ 24,150). It should be added that the total market capitalization of popular NFT tokens is about $ 100 million. Earlier, we reported that the Reddit platform has overtaken the OpenSea marketplace in terms of the number of NFT wallets. According to OpenSea supporters, most NFT wallets on Reddit are created only to gain access to NFT assets.